News, opinion and commentary

Oil mega-mergers loom over Canadian industry

Article Abstract:

Industry analysts said that the $35.8 billion merger between San Francisco, Calif.-based Chevron Corp. and White Plains, NY-based Texaco Inc. will impact Canada's oil and gas industry. The merger will create the fifth-largest company in the world with a market cap of approximately $85 billion.

Suncor unloads Australian stake

Article Abstract:

Calgary, Alb.-based Suncor Energy Inc. will sell its 50% stake in Australia's controversial Stuart oil shale project. Suncor, which will sell its stake to its Australian partners, will take a $3 million charge against earnings in the second quarter in relation to the sale.

Chevron polishes bid for Texaco

Article Abstract:

White Plains, NY-based Texaco Inc. has received a $35.8 billion acquisition offer from San Francisco, Calif.-based Chevron Corp. The deal would form the fourth-largest oil and gas company in the world.